Shelf Drilling secures new contracts for offshore West Africa

(WO) – Shelf Drilling, Ltd. has secured new contracts for two jack-up rigs in offshore Nigeria, paving the way for a fully executed three-year contract for the Achiever jack-up rig, and expanding their operations in the West Africa region.

The planned start-up of operations is October 2024, and the contract also includes an option for up to two years at rates to be mutually agreed. In addition, Shelf Drilling has secured a two-year extension for the Adriatic I jack-up rig commencing February 2025 in direct continuation of the rig’s current contract in Nigeria, plus an additional one-year option. The combined contract value for the five-year total firm period added for the two rigs, excluding mobilization and demobilization revenue, is $234 million.

“These contracts in Nigeria contribute significant backlog and revenue visibility for Shelf Drilling in 2025 and beyond,” said Greg O’Brien, Chief Executive Officer. “We look forward to delivering continued strong safety and operating performance with the Adriatic I following many years of continuous activity in Nigeria and successfully bringing the Shelf Drilling Achiever into operations later this month.”

Shelf Drilling is an international shallow water offshore drilling contractor with rig operations across Middle East, Southeast Asia, India, West Africa, Mediterranean and North Sea.